DESPINEUX-KARLS: what changed
DESPINEUX-KARLS
Largest movements
- Cash +€89,844
up €89,844 (+33.2%), from €270,845 to €360,690
mainly Receivables within one year (+€53,710) and Net result for the year (+€29,973)
- Receivables within one year -€53,710
down €53,710 (-36.5%), from €147,258 to €93,549
of which Trade receivables: -€56,846
- Tangible fixed assets -€6,430
down €6,430 (-21.3%), from €30,189 to €23,759
of which Furniture and vehicles: -€5,850
- Reserves +€29,973
up €29,973 (+26.0%), from €115,306 to €145,279
- Trade debts -€13,176
down €13,176 (-35.7%), from €36,930 to €23,755
- Other debts +€12,720
up €12,720 (+6.6%), from €193,078 to €205,798
- Gross operating margin -€18,333
down €18,333 (-8.8%), from €207,713 to €189,380
- Staff costs +€10,663
up €10,663 (+9.4%), from €113,819 to €124,482
- Taxes -€7,850
down €7,850 (-38.3%), from €20,495 to €12,645
- Other operating charges -€2,657
down €2,657 (-79.7%), from €3,332 to €675
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €479,243 | €508,926 | +€29,683 | +6.2% |
| Fixed assets | 21/28 | €30,505 | €24,075 | -€6,430 | -21.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €30,189 | €23,759 | -€6,430 | -21.3% |
| Plant, machinery and equipment | 23 | €1,305 | €725 | -€581 | -44.5% |
| Furniture and vehicles | 24 | €28,884 | €23,034 | -€5,850 | -20.3% |
| Financial fixed assets | 28 | €316 | €316 | = | 0.0% |
| Current assets | 29/58 | €448,737 | €484,851 | +€36,113 | +8.0% |
| Stocks and contracts in progress | 3 | €26,148 | €26,718 | +€570 | +2.2% |
| Stocks | 30/36 | €26,148 | €26,718 | +€570 | +2.2% |
| Amounts receivable within one year | 40/41 | €147,258 | €93,549 | -€53,710 | -36.5% |
| Trade receivables | 40 | €147,258 | €90,412 | -€56,846 | -38.6% |
| Other amounts receivable | 41 | - | €3,137 | +€3,137 | |
| Cash at bank and in hand | 54/58 | €270,845 | €360,690 | +€89,844 | +33.2% |
| Deferred charges and accrued income | 490/1 | €4,486 | €3,895 | -€591 | -13.2% |
| Total equity and liabilities | 10/49 | €479,243 | €508,926 | +€29,683 | +6.2% |
| Equity | 10/15 | €203,441 | €233,414 | +€29,973 | +14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €115,306 | €145,279 | +€29,973 | +26.0% |
| Distributable reserves | 133 | €115,306 | €145,279 | +€29,973 | +26.0% |
| Profit (loss) carried forward | 14 | €75,735 | €75,735 | = | 0.0% |
| Amounts payable | 17/49 | €275,801 | €275,512 | -€290 | -0.1% |
| Amounts payable within one year | 42/48 | €272,610 | €272,577 | -€33 | 0.0% |
| Trade debts | 44 | €36,930 | €23,755 | -€13,176 | -35.7% |
| Suppliers | 440/4 | €36,930 | €23,755 | -€13,176 | -35.7% |
| Advances received on contracts in progress | 46 | €4,513 | €4,513 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €38,089 | €38,511 | +€422 | +1.1% |
| Taxes | 450/3 | €20,931 | €21,047 | +€116 | +0.6% |
| Remuneration and social security | 454/9 | €17,158 | €17,464 | +€306 | +1.8% |
| Other amounts payable | 47/48 | €193,078 | €205,798 | +€12,720 | +6.6% |
| Accrued charges and deferred income | 492/3 | €3,192 | €2,935 | -€257 | -8.0% |
| Non-recurring operating income | 76A | €350 | €3,895 | +€3,545 | +1,013% |
| Remuneration, social security and pensions | 62 | €113,819 | €124,482 | +€10,663 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,234 | €9,562 | +€327 | +3.5% |
| Other operating charges | 640/8 | €3,332 | €675 | -€2,657 | -79.7% |
| Gross operating margin | 9900 | €207,713 | €189,380 | -€18,333 | -8.8% |
| Operating profit (loss) | 9901 | €81,327 | €54,661 | -€26,666 | -32.8% |
| Financial income | 75/76B | €827 | €762 | -€65 | -7.9% |
| Recurring financial income | 75 | €827 | €762 | -€65 | -7.9% |
| Financial charges | 65/66B | €12,739 | €12,805 | +€66 | +0.5% |
| Recurring financial charges | 65 | €12,739 | €12,805 | +€66 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €69,416 | €42,618 | -€26,798 | -38.6% |
| Income taxes | 67/77 | €20,495 | €12,645 | -€7,850 | -38.3% |
| Profit (loss) for the period | 9904 | €48,920 | €29,973 | -€18,947 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,920 | €29,973 | -€18,947 | -38.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.